Expert: Ray A Miller - 10/21/2011

Question
I had a credit card that I was paying on a monthly basis. I moved from PR to VA in 2006 and continued paying online until one day the account was locked. I called the bank (Ciitibank) and they said that it had been reported lost which I didn't do. They sent me another card and I opened the account online to pay and submitted a payment. Next month I tried to pay again and the account was locked again. I called Citibank and they told me that the account was sold to FirstBank. I called FistBank and they tell me that the account was sold to Bank Of America. So I called Bank of America with the intention of continuing to pay but the person I spoke with couldn't find the account either so I didn't know who how or where I was going to pay. Nobody has contacted me at all or has been billing me.  Here I am in 2011 trying to get another job and a house with no luck because this account shows on my credit report being Charged Off. What should I do? Should I go to Bank Of America to find out if a we could settle this? What if it has been sent to a collection agency, would they correct my credit report once I pay?

Answer
Wow, what a mess.  Send Bank of America a certified letter telling them what you have told me and offer to settle the account if they will have it removed from your credit as placed in error.  They can do this if they will. It would be helpful if this was the only negative thing that is on your history.  If they do not agree to this, report them to the BBB, consumer affairs and the Attorney General in your state.  Make sure you let the bank know you are going to report them before you do. I really wish you good luck with this.